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6 avril 2010

buying a house

Building on the concept of 401(k) Day observed at many companies each September, the benefits department wanted to promote Tiffany's 401 (k) plan but recognized that financial education takes more than a day. So the department decided to offer something more comprehensive. "We expanded 401 (k) Day to the entire month and broadened the concept to include other aspects of financial wellness," said Sol Klein, benefits director at Tiffany. In addition, the company used this - such as flexible spending accounts and commuter benefits - that can maximize an employee's take-home pay by using tax-free dollars to pay eligible expenses. These. Such programs are even more valuable in today's economy. The campaign culminated with Tiffany 1837 bookmark each employee. The statement, which shows the value of all the programs the company offers, can serve as a key resource in helping employees plan for the future. By distributing statements as part of the Take 5 campaign, Tiffany was able to showcase the statement's importance and, at the same time, furnish each employee with actual data to help with financial planning efforts. As it turned out, the timing for the Return to Tiffany Cuff links world financial markets crashed, and the information that Tiffany was providing became even more relevant. CAMPAIGN COMPONENTS The campaign consisted of was to keep messages and materials as simple as possible. Says Klein, "We didn't want employees to feel overwhelmed by too much information. Consistent with our theme, we wanted employees to be able to review the program in five minutes or less, knowing how little time everyone has these days for such things." Webinars and live seminars held throughout the month covered topics such as investing in a down market, 401(k) basics, budgeting, Medicare, Tiffany's retirement plans, credit reports, identity theft, mortgages and refinancing. Tiffany's 401 (k) and employee assistance program (EAP) Atlas cuff links in-house experts ran these seminars, so there was no cost to the company. (Note that many financial planners also offer seminars free of charge.) To reinforce seminar messages and to position seminar topics within a larger context, Tiffany teamed with Buck Consultants to create a pocketsize Take 5 resource guide, organized around important life events such as starting a family, paying for college, buying a house and everyday responsibilities finances. The guide was short - about 100 words on a page - so the information would not be intimidating. The discussion of each life event included tips for proactively responding to the related financial challenges while highlighting relevant company programs that provide support. For example, the discussion about buying a home listed some common issues to consider when evaluating mortgage options, as well as a reminder of the loan feature in the company's 401 (k) plan. Tiffany also wanted to emphasize the steps each individual should take to protect against loss. So the guide included reminders about the importance of homeowners', renters' and auto insurance to protect an individual's property and the importance of life insurance, wills, beneficiary designations and estate planning to provide financial security for an individual's survivors in the event of his or her death. Finally, a portion of the guide focused on preparing for retirement. It included an outline of company retirement plans, as well as vehicles such as individual retirement accounts (IRAs) and annuities that individuals can fund independently. CAMPAIGN PLANNING
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